Record Equity Gains Can Power Your Next Move

Equity can be a real game-changer if you’re planning to make a move. According to the latest data from CoreLogic, the average homeowner gained $64,000 in equity over the past year, a number that grew substantially as home values appreciated.

Homeowner Equity Gains Over the Past Year

Source: CoreLogic

Why Equity Is Growing Today

For a homeowner, your equity is the current value of your home minus what you owe on

the loan. While experts say price growth will moderate due to the shifting market, ongoing appreciation is expected nationally and that should continue to give your equity a boost. The graph below uses projections from the Home Price Expectation Survey (HPES) by Pulsenomics to show that if someone purchased a median priced home in January 2022 how their home value is expected to grow over the next five years.

Potential Home Price Growth Over the Next 5 Years

Based on Projections from the Home Price Expectation Survey

$390,000 $426,270 $444,131 $457,988 $473,834 $492,787

2022 2023 2024 2025 2026 2027

$102,787

Potential growth in household wealth over the next five years based solely on increased home equity if you purchased a $390K home in January of 2022.

Source: HPES 2022 2Q

The Opportunity Your Rising Home Equity Provides

In addition to building your overall net worth, equity can also help you achieve other goals like buying your next home. When you sell your current house, the equity you’ve built up comes back to you in the sale, and it may be just what you need to cover a large portion – if not all – of the down payment on your next home. So, if you’ve been holding off on selling or you’re worried about being priced out of your next home because of home price appreciation, rest assured your equity can help fuel your move.

Bottom Line

Let’s connect to determine how much equity you have in your current home and how you can use it to help you make your next move today.